My Net Fone Limited (MNF)

Views and News

Smaller telco with advanced technology

Founded in 2004 and listed on ASX mid 2006, MyNetFone grew from newcomer to an independent peer to Tier 1 incumbents in under a decade, by building its own network and interconnecting with incumbent carriers.

MNF now claims the largest VoIP network in Australia carrying, over 3 billion billed voice minutes. Its group brands span network infrastructure, software platform development & direct retail brands, focused on migrating consumers to new voice communications technology.

Retail brands are CallStream, for small business 13/1300/1800 and cloud-based inbound call services; ConneXus, a business and corporate specialist in multi-site and intensive data services and hosting; and MyNetFone for large-scale Virtual PBX and carriage and also serving over 90,000 residential VoIP and DSL services.

Symbio Networks provides wholesale carriage and extensive hosted services; it owns carrier grade networks in Australia, NZ and Singapore that interconnect with over 20 Tier 1 providers.


Half-year Performance & Estimates - MNF

Year-end June 1H12A FY12A 1H13A FY13A 1H14A FY14E FY15E
Sales, $m 19.1 38.3 18.4 46.3 28.5 59.0 69.0
EBITDA, $m 1.0 4.4 1.9 6.0 3.7 8.8 11.0
EBIT, $m 0.86 4.0 1.7 5.3 3.3 7.8 9.8
Report NPAT, $m 0.93 3.1 1.5 4.2 2.4
Adj. NPAT, $m 2.4 5.6 7.0
Reported EPS, ¢ 2.00 5.00 3.00 7.00 4.00
Adjusted EPS, ¢ 4.00 9.00 11.20
EPS %FY/Growth 40% 43% 40% 33% 29% 24%
Dividend, ¢ 0.80 2.3 1.5 3.5 2.0 4.50 5.60
Franking, % 100% 100% 100% 100% 100% 100% 100%
EBITDA Margin 0 11% 10% 13% 13% 14.9% 15.9%
NPAT Margin 0 8% 8% 9% 8% 9.5% 10.1%
ROE, % 0 1.2 17% 38% 20%
EBIT/Interest 0.0 -32.5 -21.1 -51.3 -295.2
Net Debt / Equity 0 -2.34 -0.26 -0.42 -0.29
CashFlow/Sh, ¢ 2.1 7.1 2.5 10.3 4.6 12.0 14.0
Y/E Shares, m 52.6 55.3 62.0 62.3 62.5
Notes
Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns except the first half years which show their percentage of full year EPS. In a handful of cases, unadjusted share splits, or changes between positive and negative values, may give strange changes in ratios.



Recent News Highlights

As at 27/11/2013 : see details at www.mynetfone.com.au

27/11/2013    Business Update - Acquisition & Guidance Update     





Company Overview

MNF is a leading provider of hosted voice and data communications services for residential, business and enterprise users. It has been profitable since 2009 and paid dividends six-monthly since September 2010.

MNF has won many awards for its technology and products and has been a member of the Deloitte Technology Fast 50 in 2008, 2009, 2010, 2012 and 2013.




                Profile

My Net Fone

Rating:    

Category:    Spec Stock ;      Midcaps

Action:        

Website:    www.mynetfone.com.au

ASX code: MNF
Closing Price, 20/06/14: $ 2.360
Market Capitalisation: $ 147 million
52 Week High: $ 2.66
52 Week Low: $ 1.12
Sector: Alternative Carriers
Index: S&P/ASX All Index

Summary of Fundamentals

Year-end June FY12A FY13A FY14E FY15E
NPAT, $m 3.1 4.1 5.6 7.0
Reported EPS, ¢ 5.00 7.00
Adjusted EPS, ¢ 4.14 9.00 11.20
EPS Growth, % 150% -17% 117% 24%
P/E Ratio, x 47.20 57.00 26.22 21.07
Dividend, ¢ 2.3 3.5 4.50 5.60
Franking, % 100% 100% 100% 100%
Div. Yield, % 0.97 1.48 1.91 2.37

Notes

Our Adjusted EPS is used for the last year and forward estimates and as basis for EPS Growth and P/E Ratio. We currently use Reported data for all historic NPAT, for the prior year EPS and as base for last year EPS growth.
Data & Chart sourced from IRESS Market Technology Ltd.

One Year Chart

As at 23 June 2014 MNF.png

Other Highlights

Sector: Alternative Carriers
Return on Equity, FY13 : 38%
Net Debt to Equity, FY13 : -42 %
EBIT / Interest Cover, FY13 : -51.25 x
Gicscode: 50100000
First Listed: 18-May-06

Business Activities

My Net Fone Limited (MNF) provides VoIP and cloud focused telecommunications for retail (CallStream, ConneXus & MyNetFone brands) and wholesale (Symbio hosted services) in Australia with linkages into Singapore and New Zealand



Glossary:

      "A Core Stock" - reliable long-term yield & growth
     "We like it" - a seasoned performer, growth & yield
     "A tough scout" - creating a potential breakthrough
     "A steady performer" - giving reliable yield or growth
  Best Stocks   Portfolio of selected attractive investments
  Potential   Stocks that may have good improvement prospects
  Speculative   More risky usually smaller stocks with spec. upside
  Midcaps    In RR Midcap Index, $ 70m to 1,500m market cap.
  Large Stocks   Larger Stocks upwards of $ 1,500m market cap





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